Homes.com was recently the bearer of good news for the real estate community. The site released a price performance summary that tracks repeat sales of the nation’s homes, otherwise known as its November Local Market Index. Using home pricing data, the Index reflects the year-over-year gains for single-family properties in all 300 of America’s top markets.
In conjunction with this Index, the site also addressed local sector housing trends by releasing a Local Market Index for the Top 100 markets, as well as a Midsize Markets Report for areas ranked from 101-300. Increases were noted in 235 of these 300 markets. Although this number is slightly less than the previous month, seasonal trends likely played a part.
Of the top 100 markets from the Local Market Index, 28 are in full recovery. The Midsize Market boasts an equally impressive recovery with 59 of its 200 markets having fully recovered their home price loss that resulted from the housing bubble burst. Altogether the total markets have seen a 29% recovery, a number that inspires hope all the more for real estate’s upcoming busy season.
The executive vice president of Homes.com added encouragement with this statement: “This year will continue to bring good news, with numerous markets providing opportunities for consumers to take advantage of improvements as they consider buying and selling decisions.”
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